Sunday, March 30, 2008

Last week I attended the RISE VIII (Redefining Investment Strategy Education) Conference at the University of Dayton.It’s an experience I first participated in last year and was fortunate to repeat this year, representing SUNY Geneseo’s Finance Club and Student Managed Investment Fund with a few of my colleagues.

To quote the marketing materials, “The RISE Forum has embraced the format of the world’s most influential and prestigious forum, the World Economic Forum, held annually in Davos, Switzerland.At that forum in Davos, they bring together political, business, labor, academic, religious, and media leaders.They conduct interview style panel discussions and they do not have formal presentations in order to encourage spontaneous and dynamic exchange among panelists and participants. Likewise, at R.I.S.E. the keynote speakers are not giving speeches.”Instead, they are resources in the forum’s interactive environment.

R.I.S.E. is the globe’s largest student investment forum, boasting over 2,300 participants from over 25 countries.The event rang in its prestige worldwide with a remote closing of the Nasdaq market at 4 PM on March 27, 2008.The distinguished guest who signed off on the close was none other than Christopher Gardner, the man behind the incredibly inspirational story which inspired the popular book and movie, The Pursuit of Happyness.

R.I.S.E. Co-Chairs and Program Directors:

Dr. David Sauer, Founding Director, Davis Center for Portfolio Management, University of Dayton

“If that don’t get your fire going, your wood must be wet.” – A saying Chris’ uncle used to say to him

“It’s not a black thing.It’s not a white thing.It’s a green thing.” – A mantra Chris repeated to a southern oil tycoon when he met him in person for the first time.The man immediately closed all his other brokerage accounts and solely did business with Chris after their meeting.

“This ain’t even about you.” – Dr. Maya Angelou to Chris when talking about his life’s extraordinary turn of events since the release of his book and movie.

NOTE WELL: In Christopher’s eyes, his number one success is not his tremendous business success, but rather breaking the cycle of poor fatherhood in his family.

“Minor recessions happen a few times a decade while major recessions take place once a generation.Due to my capacity at the Nasdaq it would not be right to make predictions, but there is much uncertainty in respect to the markets.”- Dr. Frank Hatheway

NOTE: Hatheway’s main role at the Nasdaq as Chief Economist is to design the trading system which facilitates the market. Book recommendation:Atlas Shrugged by Ayn Rand

“The biggest mistake you can make is survey the middle players.You must see what the outliers are doing in a market…Three words that will kill you in money are ‘hope,’ ‘paradigm,’ and ‘synergy.’When I see those words in an article I run away as fast as I can.”- Thomas Keene

NOTE: Keene’s book recommendations: The Forgotten Man by Amity Shlaes and Manias, Panics, and Crashes by Charles Kindleberger, Robert Aliber, and Robert Solow

“We have been in a bubble boom since the 80s and I see big changes on the horizon.The real estate bubble is peaking, which can be compared to the housing bubble in Japan, and we are on the verge of an important transition.” – Harry Dent

“You need to start to look for opportunities in this market.American International Group (Symbol: AIG) is trading at book value and there are opportunities amongst the financials.You need to figure out what is priced in to the stocks.What is discounted?There are even opportunities in mature tech companies like IBM and Cisco.” – Patrick Dorsey

“If you don’t know who you are, Wall Street is an expensive place to learn.Keep an open mind and don’t defend forecasts.”- Ronald Muhlenkamp

Joseph W. Norman, Co-Founder and Editor in Chief of Notable and Newsworthy can be reached at Norms1523@gmail.com or 607.743.8569. He offers speaking engagements and personal coaching and is always up for a "business lunch." To receive the weekly eZine, The VIP Profiles, email viprofile@gmail.com or visit http://notableandnewsworthy.blogspot.com/